Select an option belowO Analytical proceduresO InquiryO InspectionO Negative confirmationO ObservationO Positive confirmationO RecalculationO ReperformanceRESETCANCELACCEPT 15% In an annual audit for Press Publishers, you are performing the following audit procedure to obtain audit evidence. For eachprocedure, click in the associated cell and select from the list provided the specific type of audit evidence. A selection may be usedonce, more than once, or not at all. Positive E 1 Sending a letter to a customer asking to respond only if the balance provided is inaccurate. )confirmation2 Conducting a formal meeting with the controller about the year-end process. E3 Conducting a walkthrough with the inventory manager in the warehouse to identify a sample of Egoods and their obsolescence or spoilage and valuation.4 Reviewing meeting minutes of the board of directors to determine if the purchase of securities Ewere authorized.5 Watching the plant manager perform the inventory count. E6 Comparing the gross profit margin for the year under audit with both the prior year and industry Egross profit margin.7 Test the impairment analysis to determine the reasonableness of the reported impairment Eanalysis.8 Test the arithmetic accuracy of the amortization of bond premiums and discounts. E